Thursday, July 24, 2025
  • About
  • Advertise
  • Careers
  • Contact
The Reflector Newspaper
  • Home
  • News
  • Politics
  • Featured
  • Foreign News
  • Business
  • Opinions
  • Sport
  • Crime
  • Others
    • Education
    • Economy
    • Entertainment
    • Fashion & Style
    • Health
    • Interview
    • Love & Relationships
    • Technology
  • Login
No Result
View All Result
The Reflector Newspaper
Home Business

Wale Edun Refute Claims Of  VAT Increment To 10℅ 

Ifeanyi Uzoechiena by Ifeanyi Uzoechiena
September 9, 2024
in Business, News
0
FG To Sustain Food Prices Reduction – Finance Minister
0
SHARES
7
VIEWS
Share on FacebookShare on TwitterShare on LinkedInShare on WhatsAppShare on TelegramSend to Email

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on Monday, debunked reports doing the rounds that the rate for Value-Added Tax (VAT) has been upwardly adjusted to 10 per cent from 7.5 per cent.

The Minister, in a statement signed by him, affirmed that the VAT rate as contained in relevant tax laws and chargeable on goods and services remains at 7.5 per cent.

Related posts

BREAKING: Governor Adeleke Plots Major Cabinet Overhaul Amid Loyalty Crisis In Osun

BREAKING: Governor Adeleke Plots Major Cabinet Overhaul Amid Loyalty Crisis In Osun

July 23, 2025
Ex-Benue Gov Loses No-case Bid In N3.1bn Fraud Trial

Ex-Benue Gov Loses No-case Bid In N3.1bn Fraud Trial

July 23, 2025

“The current VAT rate is 7.5% and this is what the government is charging on a spectrum of goods and services to which the tax is applicable.  Therefore, neither the Federal Government nor any of its agencies will act contrary to what our laws stipulate.

“The tax system stands on a tripod, namely tax policy, tax laws and tax administration. All three must combine well to give us a sound system that gives vitality to the fiscal position of the government.

“Our focus as a government is to use fiscal policy in a manner that promotes and enhances strong and sustainable economic growth reduces poverty as well as makes businesses flourish.

“The imputation in some media reports on the issue of VAT and the opinion articles that have sprouted from them seem to wrongly convey the impression that the government is out to make life difficult for Nigerians. That is not correct. If anything, the Federal Government has, through its policies, demonstrated that it is committed to creating a congenial environment for businesses to thrive.

“In fact, it is on record that the Federal Government, as part of efforts to bring relief to Nigerians and businesses, recently ordered the stoppage of import duties, tariffs and taxes on rice, wheat, beans and other food items.

“For emphasis, as of today, VAT remains 7.5% and that is what will be charged on all the goods and services that are VAT-able,” Edun said.

Channels TV

Tags: VAT incrementWale Edun

The Reflector Newspaper's newsletters cover a variety of topics, from daily news to lifestyle content, markets info to medical news. Subscribe to get the latest information.

Unsubscribe
Previous Post

Prophet Jeremiah Clarifies He Did Not Use NAFDAC’s Name To Defraud Nigerians

Next Post

BREAKING: DSS Arrests NLC President 

Next Post
BREAKING: DSS Arrests NLC President 

BREAKING: DSS Arrests NLC President 

RECOMMENDED NEWS

Ex-Taraba Gov, Ishaku In EFCC Net For Alleged N27bn Fraud

Ex-Taraba Gov, Ishaku In EFCC Net For Alleged N27bn Fraud

10 months ago
Protests Now Potent Voice For Public Frustration-Natasha

Protests Now Potent Voice For Public Frustration-Natasha

10 months ago
Pat Utomi: I Won’t Seek Public Office, Accept Govt Appointment Again

Pat Utomi: I Won’t Seek Public Office, Accept Govt Appointment Again

3 months ago
LG Crisis: Adeleke, Osun APC At Loggerheads

LG Crisis: Adeleke, Osun APC At Loggerheads

5 months ago

FOLLOW US

BROWSE BY CATEGORIES

  • Business
  • Crime
  • Economy
  • Education
  • Entertainment
  • Fashion & Style
  • Featured
  • Foreign News
  • Health
  • Interview
  • Love & Relationships
  • News
  • Opinions
  • Politics
  • Sport
  • Technology
  • Uncategorized

BROWSE BY TOPICS

#EndBadGovernance protest 2027 Elections ADC Akpabio Alaafin Of Oyo APC Atiku Bola Tinubu Buhari CBEX Coalition Dangote Refinery Defection Economic and Financial Crimes Commission (EFCC) Economic Hardship EFCC Emergency Rule Federal Government of Nigeria Fubara Fuel Price Fuel Price Hike Gunmen INEC JAMB Natasha National Power Grid Nigerian National Petroleum Company Limited (NNPCL) Nnamdi Kanu NNPC NNPCL Olubadan PDP PDP Crisis Peter Obi Petrol Price President Ahmed Bola Tinubu Rivers Administrator Rivers Assembly Rivers Crisis Senate Tinubu UTME VeryDarkMan WAEC Wike

POPULAR NEWS

  • Congo’s President Daughter’s Bedroom Surfaces Online

    Congo’s President Daughter’s Bedroom Surfaces Online

    0 shares
    Share 0 Tweet 0
  • Economy Bleeds As Naira Hits Record Low With N72.58 Depreiciation Against Dollar

    0 shares
    Share 0 Tweet 0
  • Old Naira Notes Remain Valid – CBN

    0 shares
    Share 0 Tweet 0
  • Gospel Actress, Flora Of Abattoir Movie Series Is Dead

    0 shares
    Share 0 Tweet 0
  • JUST IN: FCT Minister Wike Leads Eid-El-Fitr Homage To President Tinubu Amid Death Rumors

    0 shares
    Share 0 Tweet 0
The Reflector Newspaper

Our mission at The Reflector Newspaper is to cultivate a dynamic digital space where truth, integrity, and diversity thrive.

Follow us on social media:

Recent News

  • BREAKING: Governor Adeleke Plots Major Cabinet Overhaul Amid Loyalty Crisis In Osun
  • APC To Hold NEC Meeting At Presidential Villa
  • Ex-Benue Gov Loses No-case Bid In N3.1bn Fraud Trial
  • NNPC Reduces Petrol Pump Price To N890/litre In Abuja

Category

  • Business
  • Crime
  • Economy
  • Education
  • Entertainment
  • Fashion & Style
  • Featured
  • Foreign News
  • Health
  • Interview
  • Love & Relationships
  • News
  • Opinions
  • Politics
  • Sport
  • Technology
  • Uncategorized

Recent News

BREAKING: Governor Adeleke Plots Major Cabinet Overhaul Amid Loyalty Crisis In Osun

BREAKING: Governor Adeleke Plots Major Cabinet Overhaul Amid Loyalty Crisis In Osun

July 23, 2025
APC To Hold NEC Meeting At Presidential Villa

APC To Hold NEC Meeting At Presidential Villa

July 23, 2025
  • About
  • Advertise
  • Careers
  • Contact

Copyright © 2024 The Reflector Newspaper. Website designed by Mavens Designs.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • Login
  • Home
  • News
  • Politics
  • Featured
  • Foreign News
  • Business
  • Opinions
  • Sport
  • Crime
  • Others
    • Education
    • Economy
    • Entertainment
    • Fashion & Style
    • Health
    • Interview
    • Love & Relationships
    • Technology

Copyright © 2024 The Reflector Newspaper. Website designed by Mavens Designs.

Verified by MonsterInsights